Chevron Corporation (NYSE:CVX) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 24.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,859,513 shares of the oil and gas company's stock after purchasing an additional 359,335 shares during the period. Victory Capital Management Inc. owned 0.11% of Chevron worth $311,078,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CVX. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the 4th quarter worth approximately $25,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the fourth quarter valued at approximately $29,000. 10Elms LLP purchased a new position in Chevron in the fourth quarter worth $29,000. IFS Advisors LLC grew its holdings in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Navigoe LLC acquired a new position in shares of Chevron during the fourth quarter worth $33,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CVX. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. BNP Paribas cut Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Mizuho dropped their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company restated an "overweight" rating and set a $165.00 price objective (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Chevron in a research report on Tuesday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $161.65.

Chevron Stock Performance

NYSE CVX traded up $1.82 on Thursday, reaching $151.74. 5,814,523 shares of the company's stock traded hands, compared to its average volume of 8,370,726. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08. The firm has a market cap of $265.00 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 2.56 and a beta of 0.83. The stock has a 50 day moving average price of $143.53 and a 200-day moving average price of $148.55.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.93 earnings per share. Equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.51%. Chevron's payout ratio is 78.17%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.